There are various financial aid options for Canadian students including from student bank loans, student line of credit, Registered Education Savings Plan (RESP) and more.
Bank Loan / Student Line of Credit
Canadian banks offer loans and lines of credit for students studying in post-secondary or graduate programs, which are specifically designed to aid in the costs associated with the student’s studies for Canadian citizen, landed immigrants, and permanent residents. These credit-based loans and lines of credit are typically approved for students, and their cosigners who have a good credit rating. Here are some of the loans and lines of credits available to our students: (please visit your local bank branch to apply and for more information)
Registered Education Savings Plan (RESP)
A Registered Education Savings Plan is a special savings account for parents who want to save for their child’s post-secondary education.
Employer Assistance Program (EAP)
If you are currently employed and would like to further your career by enrolling in one of our programs, your employer may also have an Employer Assistance Program, for which the employee may be able to help cover some of the tuition costs. Please speak with your employer to take advantage of this program.
Lifelong Learning Plan (LLP)
The Life Long Learning Plan allows individuals to withdraw amounts from their Registered Retirement Savings Plan (RRSP) to finance full-time training or education for themselves or their significant other (spouse). Individuals may withdraw a maximum of $10,000 per year, for a total of $20,000 overall.
Tuition Tax Credits
Canadian Revenue Agency’s regulations allow for tuition tax credits of designated educational institutes. Tuition fees paid to Easton Education are eligible for tax credits in accordance with the Canadian Income Tax Act.
The Act allows a percentage of tuition fees paid to the medical school to be claimed as a tax credit. Students can complete the T2202A form and send it to the Finance Department for approval and signature via email to email@example.com.
For more information about financial aid, please contact firstname.lastname@example.org.